Chavezmo on the Rocks
The falling price of oil is causing problems for Hugo Chavez. It’s also going to cause problems soon for our pal Pat Deneen: remember our bet from back in June? Check out this paragraph:
Goldman expects crude to average USD 75 in the fourth quarter and USD 70 at the end of the year, but added: "Should the financial and economic crisis cut deeper into demand, the market could fall as low as USD 50 a barrel."
Oil at 13-month low this morning, just barely above $75 a barrel. Pat--better get your favorite maitre’d on speed-dial.
1:42 AM / October 15, 2008
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